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Case 2 Global Agri-Solutions

In: Emerging Markets Debt Restructuring

Author

Listed:
  • Richard Marney
  • Timothy Stubbs

Abstract

In this chapter, the second of four case studies is presented. This case deals with a cereals export–import company, whose fast growing, short-term working capital finance dependent business runs into the global COVID-19 pandemic. The company’s business is gravely affected by the public health measures limiting mobility, which disrupt economic activity in its export and import markets, and the international transport network. As a result, the operations swing into a loss, cash flow declines markedly, and multiple loan covenant breaches occur. Two lenders move to enforcement, threatening the company with bankruptcy. With strong support from the shareholders and most lenders, the company succeeds in overcoming the two uncooperative lenders and securing new funding in very challenging market conditions.

Suggested Citation

  • Richard Marney & Timothy Stubbs, 2024. "Case 2 Global Agri-Solutions," Springer Books, in: Emerging Markets Debt Restructuring, chapter 0, pages 245-297, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-66838-8_5
    DOI: 10.1007/978-3-031-66838-8_5
    as

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